Marriage is one of the most important occasions in one’s life especially in countries like India where the celebrations keep going for nearly a week. Marriages involve a lot of expenses and it is in fact prestigious issue that makes it more expensive.
Marriage loans have become one of the most popular personal loan available in the market. The financial issues related to marriage expenses can be met with the help of marriage loans. In countries like India interest rates for marriage loans depends on the current market rate when the loan is taken some of the customers prefer to choose fixed interest rates.
Banks offer marriage loans to everyone, the documents required for the approval of marriage loan include Proof of Identity (Passport Copy/ Voters ID card/ Driving License), Address Proof (Ration card Tel/elect. Bill/ / Passport copy), Bank Statements (latest 6 months bank statement /passbook), Latest salary slip or current dated salary certificate with latest Form 16.
The extra proofs required for self employed professionals and businessmen include Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA Qualification proof of the highest professional degree Proof of continuation (Trade license /Establishment /Sales Tax certificate) Other Mandatory Documents(Sole Proprietorship. Declaration. Or Certificate. Copy of Partnership Deed, Cert. Copy of MOA, AOA & Board resolution.)